Cybersecurity in retail
As a retailer, how should you think about protecting your assets and keeping up with an evolving threat landscape?
Data protection and PCI DSS compliance
Customer data is the most critical asset you have as a retailer, making data protection a cybersecurity priority. Protect your data by encrypting all sensitive information such as payment details and personal data. Many e-commerce operators also implement tokenisation of payment information. This means that sensitive payment data is replaced with a unique and randomly generated code, called a token, which protects card details during transactions and storage.
Also dedicate resources to your PCI DSS compliance. This is a comprehensive security standard designed to protect credit card information and prevent fraud. Make sure to regularly review the standard and certifications.
When working on restricting access to data, it's a good idea to aim for a need-to-know approach. That is, where users only have access to information that is really needed to perform their tasks. Manage access flexibly and efficiently through role-based access rights and automated identity management. This reduces the risk of data leaks, while your employees are not burdened with unnecessary information. Win-win, plain and simple.
“Customer data is the most critical asset you have as a retailer, making data protection a cybersecurity priority.”
More layers of protection for cybersecure e-commerce
To create a cybersecure e-commerce, several elements must be in place. SSL/TTLS encryption encrypts data for all communication between web servers and users' browsers, protects against eavesdropping and authenticates the identity of the website. Implementing advanced payment gateways, i.e. systems for securely processing online payments, offers encryption and protection against fraud.
Web Application Firewalls (WAF) and IP reputation systems protect against automated bot attacks by blocking rogue bots and restricting their access. Using AI for real-time monitoring of your environment further strengthens your protection and helps you identify anomalous behaviour, suspicious transaction patterns and alert on suspicious activity. CAPTCHA or other humanity checks ensure that the user is human, providing additional protection against automated attacks.
Security in physical stores
The physical store experience is increasingly digital today, which of course brings its own unique security challenges and solutions.
An important cornerstone of cybersecure store operations is secure POS systems. POS stands for Point-of-Sales and is a combination of hardware such as terminals, screens, cash drawers, receipt printers, barcode scanners and card readers. And software, i.e. the systems that handle payment, store transaction data, generate reports and manage inventory. Modern POS systems are cloud-based, allowing for easy updating, maintenance and data access, but also becoming a possible entry vector for threat actors. Make sure to secure your POS systems with up-to-date anti-malware.
“By creating a holistic view of your cybersecurity, retailers can protect their digital and physical assets, build customer trust and minimise the risk of security incidents.”
Ensure strong authentication and robust encryption methods whether via wired network, wireless network or 5G. Secure login through two-factor authentication prevents unauthorised access and increases the security of your stores. The same applies to administrative access to store systems, where only authorised staff should have access to sensitive systems and data to reduce unauthorised use and security incidents.
In-store physical security also includes locked computers and monitored server rooms to protect your equipment. Also, make sure to hold regular security briefings with your store staff to update them on security practices and potential risks and threats. This way, your staff can be more alert and respond quickly to any incidents.
Protection against network attacks
Proactively protect against network attacks by:
- Updating firewalls with AI-powered threat detection
- Segmenting networks to limit damage in the event of an intrusion
- Continuous monitoring of network traffic
- Regular vulnerability analysis and penetration testing and rapid patch management for known security holes
- Implementation of Zero trust framework
Stronger protection with proactive security work
By creating a holistic view of your cybersecurity, retailers can protect their digital and physical assets, build customer trust and minimise the risk of security incidents. If you don't have the expertise in-house to take on the challenges of a more vulnerable security environment, turn to an IT partner with experience in the retail industry who understands the challenges and opportunities you face.